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Noreco forfeits Nini and Cecile

first_imgNorwegian Energy Company ASA has reached an agreement with its joint venture partners in Denmark with respect to its forfeited licences and related abandonment liabilities.Namely, Noreco has terminated its joint venture and its participation in the Nini and Cecile oilfields (the Licences), located in the Danish part of the North Sea. According to provisions in the respective joint operating agreements, Noreco has forfeited and transferred its participating interests in the Licences to the Partners on a pro-rata basis.DONG E&P A/S is the operator of both licences that contain Nini and Cecile oil fields, licence 4/95 and licence 16/98, respectively, in partnership with RWE Dea AG.In addition, the settlement for claims on defaulted cash calls and capping of the abandonment liability includes a cash consideration of NOK 60 million ($7.6 million), and an 18.2 per cent working interest in the Lulita field.The restricted cash set aside for future abandonment liabilities will remain in escrow with and on Noreco’s balance sheet. According to the agreement, Noreco will not be held liable for abandonment costs beyond the restricted cash. Final closing of the agreement is subject to approval by the Danish Energy Agency.The agreement in Denmark leaves Noreco with full ownership of the significant Siri insurance claim, a 10 per cent working interest in the producing Lulita field, and very limited financial obligations in Denmark.To remind, Noreco was in breach of the licence agreement that contains Nini field due to not making payments for its share of production costs. This allowed other partners to claim Noreco’s 30 per cent interest in the licence without any consideration. The status of Cecile field licence was similar to this one, Noreco was in breach of the licence agreement, but with a different timing.[mappress mapid=”2098″]last_img read more

Gruber hauls huge reactors

first_imgThe cargoes, each weighing 2,000 tons (pictured below), were moved from GE’s Massa facility to the ENI refinery near Sannazzaro.In order to complete the shipment, the two reactors, measuring 57 m in length and 6 m in diameter, were dismantled into 34 pieces, Gruber said. GE built a mobile workshop at the site of the Sannazzaro refinery in order to weld the reactors back together.Gruber said it is very active at the refinery, where it has deployed cranes, other equipment and personnel.Despite the short distance, the transport was difficult and challenging, Gruber said.last_img

PCN trio ship equipment to Belgium

first_imgV. Alexander Germany coordinated the entire project. Fortune International Transport, a PCN representative in Italy, was responsible for the handling, loading and chartering of a vessel to Belgium. Wirtz Shipping, a PCN founding member and representative in Belgium, was tasked with the discharge and delivery of the plant machinery to the customer. www.projectcargonetowork.comlast_img

WWL ALS gets reeling

first_imgThe reel of steel wire rope, manufactured by Brunton Shaw, was transported from Worksop to the port of Goole by road. Preparations for loading included a jacking and skating operation, and a trailer configuration build.The road transport was undertaken by heavy haulier Allelys using its 500-tonne capacity Goldhofer girder bridge for the first time. See more about the delivery from Worksop to Goole here.The load left the Brunton Shaw manufacturing plant under police escort and began its 67 km overnight journey to the port, which took a little over nine hours, travelling at an average speed of 7 miles per hour.WWL ALS explained that it took months of planning and preparation for such a complex move, with route surveys undertaken and arrangements made with the Highways Agency, police forces and the relevant councils to remove obstacles en route. A section of the journey also involved the closure of the M62 motorway, with the trailer being driven contraflow to the normal traffic direction.Upon arrival at Goole port, the reel was unloaded onto heavy-duty stools to enable a self-propelled modular transporter (SPMT) to be driven underneath the unit and moved alongside the vessel, where it was loaded on board using a 1,000-tonne capacity mobile crane.The reel was subsequently shipped to a heavy lift terminal in the Netherlands, where it was offloaded using a floating crane and lifted onto a heavy lift vessel for shipment to the Gulf of Mexico. WWL ALS provided all of the loading, lashing and securing operations, including marine and warranty survey. Force and weight spreading calculations were necessary due to the extremely high point weight loading on the deck, explained the company.This vessel is due to arrive in the USA in late November. The reel was transported from Worksop to Goole, accompanied by police escort. The reel was delivered to the UK Port of Goole for loading on board a shortsea vessel. The reel was loaded onboard a heavy lift vessel at the Port of Rotterdam for shipment to the USA. www.wwlals.comlast_img read more

Ted Cruz wants ‘El Chapo’ to pay for Trump’s border wall

first_img Published: April 27, 2017 5:29 PM EDT Do you see a typo or an error? Let us know. SHARE Cruz introduced the Ensuring Lawful Collection of Hidden Assets to Provide Order Act — you get it? The EL CHAPO Act! — on Monday. The bill would take any assets that the government would get from prosecuting El Chapo and apply the funds toward building the border wall.Guzman is accused of running one of the world’s largest drug trafficking rings (and is one heck of an escape artist). He was extradited from Mexico earlier this year and indicted on multiple charges: operation of a continuing criminal enterprise, conspiring to murder rivals, firearms violations, money laundering.But how far will $14 billion go in building the wall? We don’t know, because we really don’t have a firm estimate yet of how much this wall would cost. Estimates have ranged from $12 billion to almost $22 billion.center_img Ted Cruz wants ‘El Chapo’ to pay for Trump’s border wall (CNN) Forget that talk about Mexico footing the bill for President Trump’s border wall.Ted Cruz has the answer — let El Chapo pay for it.The conservative Texas senator thinks the $14 billion in assets the US government is trying to get from the reputed drug lord — whose real name is Joaquin Guzman — would be a nice down payment on Trump’s vision of a “big, beautiful” wall on the southern border.“Fourteen billion dollars will go a long way toward building a wall that will keep Americans safe and hinder the illegal flow of drugs, weapons, and individuals across our southern border,” Cruz said in a statement. “Ensuring the safety and security of Texans is one of my top priorities. We must also be mindful of the impact on the federal budget. By leveraging any criminally forfeited assets of El Chapo and his ilk, we can offset the wall’s cost and make meaningful progress toward achieving President Trump’s stated border security objectives.”last_img read more

International firms commit to pro bono work

first_imgThe London offices of three international law firms have partnered with a UK charity in an effort to provide pro bono legal advice.Milbank, Sullivan & Cromwell, and Winston & Strawn have joined the Advocates for International Development (A4ID) as its legal partners and will advise development organisations, governments, bar associations and social enterprises.Yasmin Batliwala, A4ID’s chief executive, said it was delighted to partner with the firms which she said have shown a ‘commitment to using their lawyers’ skills for the benefit of the world’s poorest people’.Russell Jacobs, a partner in Milbank’s London office, said: ‘Milbank, is an international law firm with a broad footprint and a strong record of commitment to pro bono and corporate social responsibility.’Peter Crowther, managing partner of Winston & Strawn’s London office, said A4ID has ‘tremendous experience in leveraging law firm expertise to positively impact organisations around the world’.‘Our London attorneys are delighted to collaborate as a legal partner of the organisation,’ he added.This week sees the start of National Pro Bono Week in the UK.The event, which aims to celebrate the breadth and impact of pro bono work undertaken by the legal profession, takes place every November and is sponsored by the Law Society, the Bar Council and the Chartered Institute of Legal Executives.last_img read more

Virgin signs West Coast direct award contract

first_imgUK: The Department for Transport announced on June 19 that it had agreed terms with Virgin Rail Group for a direct award contract to operate InterCity West Coast services for a further 2 years and 9 months. Virgin is currently running the business under a stopgap agreement signed in December 2012.The new contract is the sixth direct award to be negotiated by DfT following the relaunch of its franchising schedule in March 2013. Virgin will continue to operate service on the West Coast Main Line until April 2017, when a competitively-tendered long-term franchise is expected to start.Under the deal, Virgin has committed to pay more than £430m in premia to run the franchise. It will also deliver £35m of ‘passenger benefits’, including the conversion of one first class coach to standard class on the 21 nine-car Class 390 Pendolino trainsets and the introduction of free wi-fi at stations. More than £20m will be invested in station enhancements, with extra car parking to be provided at Carlisle, Lancaster and Stafford. Another £2·5m will fund interior improvements on the Pendolino fleet, and £2·7m is allocated for improved catering facilities.In addition, Virgin ‘will now start work to secure new direct services from London to both Shrewsbury and Blackpool from December’, subject to negotiating suitable paths with Network Rail and the Office of Rail Regulation. Shrewsbury would have two trains in each direction on Monday to Saturday and one on Sunday. Blackpool North would see one train each way Monday to Friday.‘The West Coast provides a vital artery between London and Scotland, and it is crucial we do everything we can to improve services on this much-used route’, said Transport Secretary Patrick McLoughlin. ‘This deal will provide thousands more seats and better journeys for the tens of thousands of passengers who use these services every day.’Virgin has committed to working with Network Rail and local communities and stakeholders to look at ways to improve journey times between London and Scotland, including a proposed remodelling of the junction at Carstairs.Virgin Trains Executive Co-Chairman Patrick McCall said ‘we are delighted to have reached a deal, after some tough negotiations with the DfT. It puts the problems of 2012 firmly behind us, and shows the clear benefits of a well-run franchise system. This deal is great news for passengers and taxpayers, with significant benefits for our customers, as well as a big increase in the money we pay to government.’The Department for Transport announced on June 19 that it had transferred the 40% stake in Eurostar which it holds through London & Continental Railways to the Treasury. A joint venture of Keolis (UK) Ltd and Eurostar International Ltd has been shortlisted for the InterCity East Coast franchise, and DfT said the transfer has been done ‘to address any perceived or actual conflict of interests resulting from the interaction between the government’s stake in Eurostar’ and the franchise competition, ‘and in particular any perception of bias arising out of the Secretary of State for Transport’s shareholding in London & Continental Railways’.last_img read more

Apex Legends Season 5, new trailer reveals Loba’s abilitites

first_imgSeason 5 of Apex Legends is now live and there are lots of changes to the game including new quests, map changes and a new Legend in the form of Loba. This cunning new legend has a vendetta against the terrifying, seemingly immortal Revenant. This has given her a thirst for blood and the skills to avenge her family’s untimely death.After her parents’ murders, Loba grew up to become a famous high society socialite by day, and the Outlands’ most impressive and dangerous thief by night. Now she is looking for answers, loot and most of all, Revenant’s demise.Watch the Loba trailer below:Key changes to Apex Legends season 5:New Legend: Her powerful teleportation skill allows Loba to get a jump on her foes, while her passive ability gives her a leg up when scoping out loot. Loba’s ultimate ability, the Black Market, will open up a one-stop-shop for her squadmates to collect the best loot in the area.Quests: A brand new mode in Apex Legends, players looking for riches, glory and additional story can hunt for treasure and participate in a nine-week series of PvE quests in Season 5.Map Changes: Loba’s entrance to King’s Canyon to hunt down and destroy Revenant has had a ripple effect on the arena, shaking up beloved drop-in locations including Skull Town, and changing how competitors may choose to navigate their next strike or defensive hold.Battle Pass: An all-new battle pass boasting over 100 exclusive items including skins, Battle Pass content and Apex Packs.Ranked Leagues Series 4: Ranked Leagues Series 4 is introducing “reconnect.” If players get disconnected due to internet weather, a quick brownout, or a crash in the game they can now restart and reload back into the session.Visit www.playapex.com for the latest updates.last_img read more

Egypt’s justice minister sacked for saying he would arrest prophet Muhammad

first_img“Egypt’s judges are sorry that someone who defended Egypt and its people, judiciary and nation in the face of the terrorist organisation that wanted to bring it down should be punished in this way,” said Abdallah Fathi.Egyptian courts have been absolving Mubarak-era officials, while imposing long sentences on liberal and Islamist activists.Egypt’s judiciary has faced criticism from rights groups in the past two years after judges issued mass death sentences against Muslim Brotherhood supporters, locking up youth activists and sentencing writers and journalists.Zind’s predecessor was also forced to resign last May after saying the son of a garbage collector was ineligible to serve as a judge.It was not immediately clear who would replace him. Egypt’s prime minister has sacked the justice minister, Ahmed al-Zind, after he was criticised for saying he would jail Islam’s prophet Muhammad himself if he broke the law.Zind’s comments came in a televised interview on Friday. Upon realising what he had said, Zind immediately stopped and said: “I ask for forgiveness from God.” He also issued an apology in another interview on Saturday, but to no avail.“Prime minister Sherif Ismail issued a decree today to relieve Ahmed al-Zind … of his position,” a government statement said, giving no more details.Zind, a former appeals court judge, had been publicly outspoken in his criticism of the Muslim Brotherhood removed from power by the army in mid-2013 and banned as a terrorist group.He has in the past denounced the 2011 revolt that ended Hosni Mubarak’s 30-year rule and ushered in the election that brought the Islamist movement to power. He has also been a strong defender of the judiciary and its powerful position.Egyptian judges issued a statement opposing Zind’s removal over what the head of the Judges Club told Reuters was a slip of the tongue that could have happened to anyone.last_img read more